Former Walt Disney CEO Bob Iger and venture capital billionaire Joshua Kushner have purchased the Lakers for $12 billion on Wednesday. Yet until this week they were candidates to own the Las Vegas NBA expansion team.
The NBA announced in March that it had begun officially exploring expansion to Las Vegas and Seattle. League commissioner Adam Silver has said multiple times that he expects a decision on whether to add new teams by the end of the year.
The NBA has said the expansion team would cost between $7 billion and $10 billion, which falls in line with the Lakers value.
Who are the remaining candidates?
There are multiple ownership groups who are interested in landing a Las Vegas NBA expansion team.
— They include Earvin “Magic” Johnson and his group, the MAGI.
— A group headed by Golden Knights owner Bill Foley.
— The Las Vegas Jacks group has also announced their plans to bid for a Las Vegas team, who are headed by former NBA owner Jerry Colangelo and including other members, such as former NBA player and coach Vinny Del Negro, chairman and managing partner of Prime Capital Financial Scott Colangelo, media executive David Levy, American Century investments CEO Jonathan Thomas and former NBA lottery pick and current NBA analyst Jay Williams.
— A group led by Walmart heiress Nancy Walton Laurie and her husband Bill Laurie, who live in Henderson.
Fenway Sports Group, which includes NBA star LeBron James, said it is no longer interested in being part of an NBA expansion team ownership group, despite previous statements made by James expressing that he would be interested in owning a Las Vegas team.
